New delhi: Internet giant Naver Corp. announced it has signed a memorandum of understanding (MOU) with Tata Group's information technology unit to explore business opportunities in India.
According to Yonhap News Agency, the agreement with Tata Consultancy Services (TCS) was formalized during a South Korea-India business forum in New Delhi. The event was hosted by the Federation of Korean Industries and attended by South Korean Industry Minister Kim Jung-kwan, Naver CEO Choi Soo-yeon, Indian Commerce Minister Piyush Goyal, and TCS President Ujjwal Mathur.
The MOU outlines a collaboration between Naver and TCS, focusing on artificial intelligence (AI), cloud, and business-to-consumer (B2C) services. The partnership aims to explore AI and digital transformation opportunities, with a particular emphasis on the Indian market.
Naver anticipates that the partnership will utilize TCS' ecosystem services and data assets to create new revenue-generating opportunities in India. Naver CEO Choi expressed optimism about the collaboration, noting India's active expansion of its AI ecosystem and the potential for business growth through joint efforts in AI, cloud, and B2C services.